Gold prices are currently high and markets should be careful of a potential asset bubble forming, a senior official at China’s central bank said on Wednesday, as prices for the precious metal hit a record high.
“We must keep in mind the long-term effects when considering what to use as our reserves,” Hu Xiaolian, a vice-governor at the People’s Bank of China
The U.S. dollar continued to tumble against most Asian currencies Thursday, prompting a wave of foreign-exchange intervention by central banks in South Korea, Taiwan, the Philippines and Thailand seeking to limit damage to their export industries.
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